Overview of the global DIY power tools market

Market research analysts at Technavio predict that the global DIY power tools market will grow steadily at a CAGR of more than 4% by 2021. Lithium-ion (Li-ion) battery powered cordless tools offer various advantages including high energy density and less sensitive to damage. Additionally, these power tools are also lightweight, free from confines of design and shape, and have the longest charge life and are easily rechargeable. As a result, there is an increasing preference towards these tools over nickel-metal hydride (NiMH) and nickel-cadmium (NiCad) battery-powered tools. According to this market research and analysis, this growing demand for cordless power tools with Lithium-ion batteries will be one of the primary growth factors for this market.

Owing to high inflation rates and fluctuations in the economy, organizations across the world have the need to increase productivity with maximum cost savings. Power tools manufactured with high power consumption have high cost as compared to other batteries. Consequently, vendors in this market have started focusing on manufacturing power tools with Li-ion batteries as these have high density, lower self-discharge, and negligible cost of maintenance. As a result, the coming years will witness the emergence of energy-efficient power tools which will be one of the key trends that will gain traction in the DIY power tools market in the coming years.

Competitive landscape and key vendors

The market is competitive and fragmented due to the presence of several global vendors. With the rising demand from various sectors, the vendors are increasingly focusing on APAC where the demand for power tools is estimated to increase at a considerable rate. To consolidate their market shares, the vendors are also engaging in M&A activities.

The leading vendors in the market are -

• Makita
• Robert Bosch Tools
• Stanley Black & Decker
• Techtronic Industries

The other prominent vendors in the market are Atlas Copco, BAIER, Casals, Craftsman, Freudenberg, Hilti, Husqvarna, IRWIN TOOLS, Klein Tools, and Snap-on.

Segmentation by product type and analysis of the DIY power tools market

• Cordless
• Corded

The consumer segment and the residential construction industry will primarily demand for corded power tools due to their versatile applications and the availability of accessories. The kind of technology and the convenience offered to the customers influences the demand for corded power tools.

Geographical segmentation and analysis of the DIY power tools market

• Americas
• APAC
• EMEA

Owing to the factors such as the rise in employment, wage rates, improving business environment, growing economic activities, and rising disposable incomes, the Americas is witnessing significant growth in the residential construction industry. Consequently, Americas will account for the major shares of this global market throughout the forecast period.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global DIY power tools market?
• What are the key market trends impacting the growth of the global DIY power tools market?
• What are the challenges to market growth?
• Who are the key vendors in the global DIY power tools market?
• What are the market opportunities and threats faced by the vendors in the global DIY power tools market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global DIY power tools market?

Technavio also offers customization on reports based on specific client requirement.

This upcoming report is an important part of Technavio's heavy industry portfolio and offers comprehensive insights into fast growth sectors like tools and components and engineering tools. Technavio's market research reports also provide extensive knowledge about all the leading suppliers who hold prominent shares in the heavy industry market space.

To envisage the tools and components industry's future growth prospects and to help clients plan new tactics for market expansion, our upcoming industry research report on the global DIY power tools market for the forecast period of 2017 to 2021 presents actionable insights derived from the data gathered from sound sources including manufacturers, channel partners, regulatory bodies, and stakeholders.

This upcoming industry research report on the global DIY power tools market also considers the growth of related markets such as turning tools, which is expected to grow at a CAGR of nearly 8% by the end of 2021.

This upcoming industry research report for the global DIY power tools market also reveals the market drivers, trends, and the challenges presently faced by the heavy industry vendors and offers insights into the markets of construction and unit operations.